Spain is the fastest growing market for exports. (file photo)
European countries like Spain, Germany, Belgium and Poland are emerging as important export markets for India. According to Commerce Ministry data, Spain, Germany, Belgium and Poland have now become strong and important export markets for Indian goods in the 27-nation European Union (EU). Data shows that Spain is the fastest growing market in Europe for Indian exports. During April-November of the financial year, India’s exports to Spain increased by more than 56 percent from $3 billion to $4.7 billion. It was $3 billion in the same period of the last financial year.
Spain’s share in India’s total exports has increased to 2.4 percent. It increased by 0.5 percentage points, which is the highest among European countries during this period. Similarly, in the first eight months (April-November) of this financial year, India’s exports to Germany increased by 9.3 percent from $6.8 billion to $7.5 billion. According to the ministry, Germany continues to maintain stable demand for Indian products with a 2.6 percent share in India’s total exports and a growth of 0.2 percentage points. India’s exports to Belgium also increased from $4.2 billion to $4.4 billion during April-November 2025-26. At the same time, India’s exports to Poland were $ 1.69 billion in April-November 2024, which increased by 7.6 percent to $ 1.82 billion during this period.
India’s export strategy balanced
All these trends make it clear that India’s export strategy for Europe is balanced. Rapid growth in Spain, continuous expansion in Germany and strength in Belgium show that India is expanding beyond traditional markets and strengthening its hold in new markets as well. Negotiations on Free Trade Agreement (FTA) are going on between India and the European Union. Due to this, despite global economic uncertainties, there is hope of good growth in trade between the two.
Europe’s largest trading partner
Bilateral trade in goods between India and the European Union in the year 2024-25 stood at $136.53 billion. In this, India’s export was 75.85 billion dollars and import was 60.68 billion dollars. With this the EU became India’s largest trading partner. About 17 percent of India’s total exports go to the EU market, while India’s share in the EU’s total foreign exports is 9 percent. If the India-EU Free Trade Agreement is implemented, Indian goods such as ready-made garments, pharmaceuticals, steel, petroleum products and electrical machinery could become more competitive in the EU market.